• # 118513
• Thu 02 Apr 2020 06:10 AM

Hi,

I just wanted to know how I should process this rental allowance for a Not-for-Profit business. The contract states "You will receive a rental allowance of $200/wk which shall be automatically deducted from the Group's rental expense for the Accommodation. You agree that the Group will set-off the difference between the weekly rental expense and your Rental Allowance against your remuneration."

Do I allocate the $200/wk as a non-taxable (before tax) allowance and then use a non-taxable (before tax) deduction for the Groups rental Expense?

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• # 118532
• Thu 09 Apr 2020 06:04 AM

LeanneS said:

“

Hi,

I just wanted to know how I should process this rental allowance for a Not-for-Profit business. The contract states "You will receive a rental allowance of $200/wk which shall be automatically deducted from the Group's rental expense for the Accommodation. You agree that the Group will set-off the difference between the weekly rental expense and your Rental Allowance against your remuneration."

Do I allocate the $200/wk as a non-taxable (before tax) allowance and then use a non-taxable (before tax) deduction for the Groups rental Expense?

”

 Great question you asked. Why don't you take professional advice at AcoBloom International? They give 20 hours of free service.

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• # 119079
• Mon 21 Sep 2020 04:54 AM

Typically, the business or the non-profit organization is some type of membership arrangement, whose members contribute in some way and may receive non concrete benefits, such as participating in activities, but may not derive financial or concrete benefits. Accounting BPO, especially in the high-tech firms, brought people into the mix without paying the high salaries of any country citizen. The higher profits were sometimes insisted by shareholders, who demanded quarterly profits at almost any cost.

Edited at 24 Sep 2020 10:20 PM GMT

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